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Why Shadow Banking Is Bigger Than Ever

Despite nearly destroying the global economy in 2008, the shadow banking revolution marches on.

Illustrations by Ariel Alter

“How is it,” a friend recently asked, “that it’s possible to mobilize public opinion against nuclear energy without fighting on the terrain of physics, but impossible to do so with finance?” Wait a second: wasn’t she forgetting the Occupy Wall Street movement? The now pervasive and pejorative use of the words “shadow banking,” or “financialization”? […]

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